Premier Eby's New Housing Finance Model
Premier Eby stated that the previous housing finance model is dead, leaving the question of what the new model will be.
Trevor Koot suggests considering the "Australia model", which allows foreign money to fund new real estate projects but prevents it from purchasing existing resale homes.
The "Australia model" should be given very careful consideration in B.C.
- The "Australia model" permits foreign money to fund new real estate projects.
- It prevents foreign money from purchasing existing resale homes.
A recent letter co-signed by prominent developers asked the government to reconsider its restrictions on foreign investment in real estate, citing the need to build more housing units.
Author's summary: Premier Eby seeks new housing finance model.